If Allen Company sold equipment that had an original cost of $175,000 and accumulated depreciation of $75,000 for $62,500, how much did Allen pay for new equipment?
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The following beginning and ending balances were drawn from the records of Allen Company Equipment begining 350,000 ending 275,000. Accumulated Depreciation Begining 175,000 Ending 100,000. If Allen Company sold equipment that had an original cost of $175
Equipment with an original cost of 75,000 and accumulated depreciation of 20,000 was sold at a loss of 7,000. As a result of this transaction, cash would
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18. If a company had equipment with an original cost of $125,000 and had accumulated depreciation to date of $37,500, what would be the adjustment for this year if the depreciation rate is 15% of the beginning of the year's book value? a) $12,500 b) $13,125 c) $10,520 d) This test is getting on my nerves.
Equipment with an original cost of $75,370 and accumulated depreciation of $21,037 was sold at a loss of $5,147. As a result of this transaction, cash would a.increase by $49,186 b.decrease by $5,147 c.increase by $75,370 d.decrease by $21,037
In 2019, BayKing Company sold used equipment for $ 22,000.The equipment had an original cost of $ 84,000 and accumulated depreciation as of the date of sale was $ 60,000.BayKing also purchased held-to-maturity securities for $7,000. What is the gain or loss on the sale of the equipment? A. $39,000 gain B. $2,000 loss C. $24,000 gain D. $17,000 loss
Blythe Company has equipment with an original cost of $150,000 and accumulated depreciation of $40,000. What is the current fair value of the equipment? A) $150,000 B) $110,000 C) $40,000 D) unable to determine from the information given
Un Company sold office equipment with a cost of $39270 and accumulated depreciation of $35,912 for $5,320. Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of total assets shown on the balance sheet (ncrease, decrease, no effect)...
Meubles Fischer SA had the following balances for its property, plant and equipment accounts (in thousands of euros): September 30, 2015 September 30, 2016 Property, plant and equipment at cost €1,000 €1,200 Accumulated depreciation (350) (390) Property, plant and equipment, net €650 €810 During fiscal year 2016, Meubles Fischer acquired €110 thousand in property by signing a mortgage, plus another €310 thousand in equipment for cash. The company also received €110 in cash from the sale of used equipment, and...
Un Company sold office equipment with a cost of $41,280 and accumulated depreciation of $37,530 for $5,390. Required a. What is the book value of the asset at the time of sale? b. What is the amount of gain or loss on the disposal? c. How would the sale affect net income (increase, decrease, no effect) and by how much? d. How would the sale affect the amount of total assets shown on the balance sheet (increase, decrease, no effect)...
Un Company sold office equipment with a cost of $36.280 and accumulated depreciation of $32,438 for $5.460. Required a. What is the book value of the asset at the time of sale? Book value b. What is the amount of gain or loss on the disposal? c. How would the sale affect net income (increase, decrease, no effect) and by how much? Amount Effect Net income d. How would the sale affect the amount of total assets shown on the...